Performance data quoted represents past performance and does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The performance depicted above is for the BlackRock Global Allocation Fund (Institutional). Other share classes will vary. Current performance may be lower or higher than that shown. Refer to blackrock.com for current month-end performance. Investment returns reflect total fund operating expenses, net of all fees, waivers and/or expense reimbursement. Total annual fund operating expenses as stated in the fund’s most recent prospectus are 0.91% for Institutional shares. Net annual fund operating expenses (including investment related expenses) are 0.84% for Institutional shares. The difference between the fund’s total and net expense ratios is due to fees that BlackRock has agreed to contractually waive through February 28, 2019, and any voluntary fee waivers. Such waivers may be terminated upon 90 days’ notice by the fund’s board of directors or by a shareholder vote. Any voluntary fee waivers may be terminated at any time without notice.
From 2015, the fund’s exposure is based on the economic value of securities and is adjusted for futures, options, and swaps (except with respect to fixed income securities) and convertible bonds. Currency exposure data is available starting in 2005. Figures may not add up to 100% due to rounding.* Prior to 2006, commodity-related exposure, which is comprised of precious metals ETFs, was included in equities. Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown. Refer to blackrock.com for current month-end performance. The performance depicted above is for the BlackRock Global Allocation Fund (Institutional). Other share classes will vary. Returns are net of fees and assume reinvestment of all dividend and capital gain distributions. Hypothetical balanced portfolio consists of 60% FTSE World Index and 40% Citigroup World Government Bond Index, rebalanced monthly. Index performance is shown for illustrative purposes only. It is not possible to invest directly in an index. Methodology: Assumes initial investment at first full month post fund inception (February 28, 1989) and a lump sum withdrawal on December 31 of every year. The size of the initial withdrawal is equal to the withdrawal rate times the initial investment, and each year that amount is increased by 3% to account for inflation. Does not consider taxes. Results are hypothetical and will vary based on selection of other time frames and over time as assumptions change. These figures are for illustrative purposes only.

Additional Information on Global Allocation Interactive Chart

All data as of 9/30/18 based on Institutional shares, which are not available to all investors. Other share classes will vary. Returns calculated from first full month post inception (2/28/89). Fund inception date is 2/3/1989. Asset allocations shown are as of the dates indicated and are not a recommended allocation. Ending values on "implementation" tab as of 12/31/17".

References to “risk” or “volatility” are based on standard deviation, a measure of the dispersion of an investment’s actual returns compared to its expected returns.

On the Results Calculator tab, the “Start” year/quarter refers to the beginning of the quarter, while the “End” year/quarter refers to the end of the quarter. (e.g. 2003 Q1 – 2012 Q4 refers to the period 1/1/2003 – 12/31/2012.)

References to “Global Stocks” based on the FTSE World Index, a broad based capitalization-weighted index comprised of 2,200 equities from 24 countries in 12 regions, including the United States. The FTSE World Government Bond Index includes the most significant and liquid government bond markets globally that carry at least an investment grade rating. Index weights are based on the market capitalization of qualifying outstanding debt stocks.

Performance data current to the most recent month end may be obtained by visiting blackrock.com/ga.

Important Risks: The fund is actively managed and its characteristics will vary. Stock and bond values fluctuate in price so the value of your investment can go down depending on market conditions. International investing involves special risks including, but not limited to currency fluctuations, illiquidity and volatility. These risks may be heightened for investments in emerging markets. Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments. Non-investment grade debt securities (high-yield/junk bonds) may be subject to greater market fluctuations, risk of default or loss of income and principal than higher-rated securities. Short-selling entails special risks. If the fund makes short sales in securities that increase in value, the fund will lose value. Any loss on short positions may or may not be offset by investing short-sale proceeds in other investments. The fund may use derivatives to hedge its investments or to seek to enhance returns. Derivatives entail risks relating to liquidity, leverage and credit that may reduce returns and increase volatility.

You should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and, if available, the summary prospectus contain this and other information about the fund and are available, along with information on other BlackRock funds, by calling 800-882-0052 or from your financial professional. The prospectus ( found here) should be read carefully before investing.